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Hong Kong ranks No 2 in global competitiveness with best showing in 7 years
South China Morning Post • • world
Key Points:
- Hong Kong has been ranked as the second-most globally competitive economy, marking its best performance in seven years and moving up one spot from last year, just behind Singapore.
- The ranking was released by the International Institute for Management Development (IMD), which surveyed 70 economies, placing Hong Kong ahead of Switzerland and Taiwan.
- Hong Kong's rise to second place follows three consecutive years of improvement and highlights the strong presence of Asian economies at the top of the competitiveness rankings.
- The city's overall performance reflects sustained strength across four key factors: government efficiency, infrastructure, economic performance, and business efficiency.
- This ranking marks a rebound from 2023, when Hong Kong was ranked seventh, and matches its second-place position last held in 2019; it was previously ranked first in 2017.
